For most Filipinos owning their homes is considered a trophy of success and stability. While renting is still an option, saving the finances allotted for rent payments and purchasing a property is considered more favorable to financially independent individuals, or young couples.

Homeownership is rising in the country, with over 60 percent of families owning their homes. In particular, homeownership among Millennials (born from 1981 to 1996) and GenZ (born from 1997 and 2007) has increased by 20 percent over the past five years, as reported by the Philippine Housing and Urban Development Statistics. 

According to Kadence International, a market research agency, Millennials and Gen Z, as potential real estate buyers and owners, have different priorities and preferences than the older generations. Their motivation to buy homes or properties can influence their decisions in purchasing. 

Filipino millennials, employed and free of college debts, save and spend independently. They see homeownership as a goal towards stability, independence, security, and investment, a tangible asset that can generate wealth over time, and a status symbol they can be proud of in their later years. On the other hand, many Filipino Gen Zs are hesitant about homeownership and prefer living in their parents' house or obtaining independence by renting to save for other priorities.

According to a survey by PhilCare, a leading HMO company, Gen Zs consider their earnings sufficient for retirement and activities such as travel and leisure. However, they lack confidence in managing unexpected expenses and view homeownership as an unattainable goal rather than a realistic aspiration.

With homeownership, the young market of Millennials and Gen Z consider their income growth, affordability, and financial planning.

With the stable growth of the Philippine economy, increasing individual incomes can lead to a bigger disposable budget, allowing more Millennials and Gen Z individuals to consider home ownership.

For improved financial management, young buyers tend to look for more affordable alternatives. Entry-level housing and studio-type condos are gaining popularity among single or younger households. They also look into government housing agencies, developers, and banks that offer homes with flexible terms, lower interest rates, and deals.

For effective financial planning, the younger generations subscribe to financial literacy programs and online financial tools so they can accumulate savings for future home purchases. 

Unlike the older generations, Millennials and Gen Z have shifted toward nuclear families and single-person households, thus, the demand for housing options that accommodate smaller family units. They also prioritize convenience and homes that suit their lifestyles, so mostly choose urban living for better work arrangements, amenities, and properties with modern features. 

As digital natives, they are heavily influenced by social media where they can find video tours of their dream homes by influencers or celebrities. The rise of online real estate platforms has made it convenient for young buyers to explore, compare, and purchase properties without visiting physical locations. Developers now also offer virtual reality and 360-degree tours that allow viewing properties remotely, reducing the time and effort for young buyers to find and buy a home.